ECOWAS: Market for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms 2024

Market Size for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms in ECOWAS

The ECOWAS market for polyethylene with a specific gravity of less than X, in primary forms rose modestly to $X in 2023, with an increase of X% against the previous year. The total consumption indicated a strong increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.

Production of Polyethylene with a Specific Gravity of Less than X, in Primary Forms in ECOWAS

In value terms, production of polyethylene with a specific gravity of less than X, in primary forms rose markedly to $X in 2023 estimated in export price. The total production indicated a measured expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2021 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2022 to 2023, production of growth remained at a lower figure.

Exports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Exports in ECOWAS

In 2023, after two years of growth, there was significant decline in overseas shipments of polyethylene with a specific gravity of less than X, in primary forms, when their volume decreased by X% to X tons. Over the period under review, exports continue to indicate a perceptible curtailment. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.

In value terms, exports of polyethylene with a specific gravity of less than X, in primary forms dropped significantly to $X in 2023. Overall, exports recorded a deep contraction. The growth pace was the most rapid in 2021 with an increase of X%. The level of export peaked at $X in 2017; however, from 2018 to 2023, the exports failed to regain momentum.

Exports by Country

Senegal represented the main exporting country with an export of about X tons, which reached X% of total exports. It was distantly followed by Nigeria (X tons), Ghana (X tons) and Cote d'Ivoire (X tons), together comprising a X% share of total exports. Mali (X tons), Togo (X tons) and Burkina Faso (X tons) followed a long way behind the leaders.

Exports from Senegal decreased at an average annual rate of X% from 2012 to 2023. At the same time, Ghana (X%), Burkina Faso (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2023. By contrast, Nigeria (X%), Mali (X%) and Togo (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Ghana, Cote d'Ivoire and Burkina Faso increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) emerged as the largest polyethylene with a specific gravity of less than X supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total exports. It was followed by Nigeria, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Senegal totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Cote d'Ivoire (X% per year) and Nigeria (X% per year).

Export Prices by Country

In 2023, the export price in ECOWAS amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the export price continues to indicate a perceptible shrinkage. The pace of growth appeared the most rapid in 2020 an increase of X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Burkina Faso ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Burkina Faso (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Imports in ECOWAS

In 2023, after two years of decline, there was significant growth in supplies from abroad of polyethylene with a specific gravity of less than X, in primary forms, when their volume increased by X% to X tons. In general, imports showed a resilient increase. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, imports of reached the peak figure at X tons in 2020; however, from 2021 to 2023, imports remained at a lower figure.

In value terms, imports of polyethylene with a specific gravity of less than X, in primary forms shrank to $X in 2023. Total imports indicated a prominent increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when imports increased by X%. The level of import peaked at $X in 2022, and then contracted in the following year.

Imports by Country

Nigeria represented the largest importer of polyethylene with a specific gravity of less than X, in primary forms in ECOWAS, with the volume of imports reaching X tons, which was approx. X% of total imports in 2023. Cote d'Ivoire (X tons) ranks second in terms of the total imports with a X% share, followed by Ghana (X%) and Togo (X%). Senegal (X tons) and Guinea (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to polyethylene with a specific gravity of less than X imports into Nigeria stood at X%. At the same time, Guinea (X%), Togo (X%), Ghana (X%), Cote d'Ivoire (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2023. Togo (X p.p.) and Ghana (X p.p.) significantly strengthened its position in terms of the total imports, while Senegal and Cote d'Ivoire saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported polyethylene with a specific gravity of less than X, in primary forms in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with an X% share of total imports. It was followed by Ghana, with a X% share.

In Nigeria, imports of polyethylene with a specific gravity of less than X, in primary forms expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Ghana (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2023, dropping by X% against the previous year. Overall, the import price continues to indicate a mild contraction. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2023, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Senegal ($X per ton) and Cote d'Ivoire ($X per ton), while Togo ($X per ton) and Ghana ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Guinea (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform